The last 49 stores out of a 235-strong chain will be closed today, bringing to an end the store’s 19-year history.
Almost 7000 people will lose their jobs, at a cost of £23.2m that will initially have to be met by the government.
Administrator Deloitte said in a report into its collapse yesterday that Comet slumped to a loss of £95m for the year to April this year.
In February, Comet was bought by private equity firm OpCapita for a nominal amount of £2.
But the group, which was established in 1933, was hit by increasing competition and a loss of faith by suppliers who tightened their terms on the retailer.